This guide is for you if you are a Group FD, CFO, Tax Professional or Company Secretary – and you need to remove dormant companies from your group.
The aim of this guide is very simple – it is to answer the most common questions that clients ask when they are starting out on this kind of project. It is based on our team’s experience of advising FTSE100 companies, large corporates and SMEs on legal entity reduction projects involving the removal of hundreds of companies.
By acting on the information in this guide, you can benefit from the experience of your peers and avoid the pitfalls.
- The typical reasons why other groups decide to implement legal entity reduction projects.
- How to organize the due diligence process so that you avoid getting bogged down in inappropriate, unfocussed questions.
- How to decide whether the relevant companies need to be put into liquidation, or whether they can be simply struck off.
- The simple legal step (which is often overlooked) that you must make sure every company does before it is dissolved or wound up.
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LCN Legal is an English law firm which is authorised by the Solicitors Regulation Authority. We are specialists in the legal implementation of group structures, and this includes ‘corporate simplification’ and ‘legal entity reduction’ projects. We understand how critical tax and other considerations can be. Although we don’t provide tax advice ourselves and we don’t act as insolvency practitioners, we are very comfortable to work alongside your existing advisers or to recommend suitable people to join the team.
We contribute to the LexisNexis online resources on transfer pricing, as well was various other publications such as Financial Director Magazine, Practical Law Magazine, Practical European Tax Strategies, International Accountant, Tax Journal, Estates Review, Butterworths Journal of International Banking & Financial Law. We regularly present training sessions to major accounting firms, large corporates and banks on a range of corporate law issues.